Today Denver-based Ibotta, the #1 mobile app across all U.S. grocery stores, is releasing Ibotta 2.0, which will “explode its user base” by moving to the non-grocery realm, CTO Luke Swanson said.
The big news coincides with their first anniversary. In a year’s time, Ibotta already has 1.8 million registered, excited and engaged users. (See the below screenshot account of one avid user on Facebook). According to Consumer Intelligence Research Partners, the app was rated as the 16th most frequently-used mobile app - which puts its rank closely trailing Pinterest and beating out Netflix. Ibotta users open it on average over 20 days out of the month.
Ibotta users can now earn cash for completing short mobile interactions - like taking a short poll - and purchasing products at restaurants and home improvement stores, in addition to at the 75,000 grocery retailers already on board.
Along with reaching new industries, the Ibotta team is shedding the app’s grocery-only image to give mobile users rewards “in as many places as we can,” as noted by Marketing & Sales VP Gregory Mann.
These addicted users now not only can use Ibotta 2.0 to earn cash at new places like Chili’s, Smashburger and Home Depot, but will enjoy improvements in the app’s fundamental features such as taking pictures of receipts along with new ways to spend Ibotta earned cash.
So instead of verifying purchases by users taking photographs of receipts, users can now connect Ibotta 2.0 to a growing list of retailer loyalty cards. Also with Ibotta 2.0, users can earn cash rewards and cash out to PayPal or with gift cards for Redbox, iTunes or Starbucks.
With the new cash-out options, the Ibotta team is heading toward its goal of increasing the available cash out options, noted Mann.
This vision is light-years from Ibotta’s starting point last year as a 7-person team asking Denver baseball-goers to test the app on the way to Rockies games. Now, with Ibotta 2.0, the 25 person team is taking “a huge leap forward in fulfilling the vision of Ibotta,” said Mann.
As the company continues to expand into different industries, CEO Bryan Leach proclaimed that "Ibotta is proud to be a Denver-based business that is always looking for terrific people to join our fast growing company."
Look out for our exclusive profile on Ibotta with CEO Bryan Leach in the upcoming weeks.